Common use of EVENTS OF DEFAULT - TERMINATION REMEDIES Clause in Contracts

EVENTS OF DEFAULT - TERMINATION REMEDIES. (a) Each of the following events shall be deemed to be an Event of Default by the Licensee under this Agreement: (i) the Licensee defaulting in the payment of any License Fee, amount, or portion thereof, or other sum of money due to the Licensor and such default continues for more than Five (5) Business Days, after written notification of such default by the Licensor to the Licensee;